All Australian businesses are required to report their tax obligations but something that many businesses struggle with.
In recent years, the taxation office has become stricter with deadlines and companies failing to lodge their paperwork on time.
Add to this the risk of lodging yourself, with the offence of reporting incorrectly carrying heavy penalties and it can become a very daunting for the owner burdened with the task.
Our expert knowledge in conjunction with being registered BAS agents ensures your GST and any instalments are entered correctly and on time, avoiding late fees and penalties. In situations where deadlines or payments cannot be met, we also communicate with the ATO and register your company for extensions if requirements can be met.
What is a BAS?
Business Activity Statements (BAS forms) are required to report all the GST that has been paid and received by your business. By having a BAS registered agent calculating your figures, all your input tax credits are taken into account to ensure you pay the correct amount of GST.
What is an IAS?
Instalment Activity Statements (IAS forms) are required to report the tax amounts that are withheld from wages and salaries. These are monthly forms lodged which are also included quarterly on your BAS. Your PAYG (Pay As You Go) tax withheld can be calculated by a BAS registered agent at Millenium Business Centre.